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Nieto Company's budgeted sales and direct materials purchases are as follows. rt Budgeted D.M. Purchases rt Budgeted Sales January February March 237,300 230,100 329,800 33,500
Nieto Company's budgeted sales and direct materials purchases are as follows. rt Budgeted D.M. Purchases rt Budgeted Sales January February March 237,300 230,100 329,800 33,500 38,900 38,300 tudy Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase
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